(Bloomberg) — The savings from new fuel-efficient ship designs justify paying 25 percent more for a tanker that carries refined fuels, the industry’s largest trade group said.
The 15 percent cut in fuel consumption by so-called ECO ships would allow owners to pay $8.31 million more for a Medium- Range tanker than for a conventional vessel, Peter Sand, an analyst at the Baltic and International Maritime Council, known as Bimco, said in an e-mailed report today. For every $100 increase in the price of a ton of fuel, the value of investing in an ECO ship rises by $1.3 million, according to the report.
-By Isaac Arnsdorf. Copyright 2012 Bloomberg.